Whale Alert, the renowned platform for monitoring substantial cryptocurrency transactions, has recently disclosed an astonishing XRP transfer to none other than the prominent U.S. cryptocurrency exchange, Coinbase!
Picture this: a staggering 39,523,129 XRP, which equates to an astonishing $25,853,836 in real-world currency, has made a significant entrance. The intriguing aspect? This transfer originated from a mysterious wallet, identified only as “unknown” by the vigilant crypto analysts at Whale Alert.
Hold onto your seats, crypto enthusiasts – the cryptocurrency rollercoaster has just taken an exhilarating twist as millions worth of XRP have made their way into the core of Coinbase.
🚨 🚨 39,523,129 #XRP (25,853,836 USD) transferred from unknown wallet to #Coinbase https://t.co/df2ZlCLxST
— Whale Alert (@whale_alert) November 11, 2023
The objective of this transfer appears straightforward – the whale seems to be planning to sell this portion of XRP in order to realize profits.
As of the time of composing this article, XRP is currently being traded at the $0.66583 mark, following a 6% increase over the past 24 hours. Before this, the Ripple-associated cryptocurrency had been fluctuating around this level, experiencing several declines and subsequent recoveries as it attempted to break through this resistance threshold.
Ripple moves nearly 150 million XRP
Earlier this week, there was significant news in the cryptocurrency world that caused quite a stir. Ripple Labs, the prominent fintech company based in San Francisco, made a significant impact by conducting three substantial XRP transfers on Coinbase, collectively totaling a staggering 148 million XRP. This move sent ripples through the digital currency community and showcased Ripple’s influence in the space.
The most substantial of these transfers involved a whopping 100,000,000 XRP being moved between addresses within Ripple’s own blockchain. Additionally, smaller portions of 23,400,000 XRP and 24,700,00 XRP were transferred from anonymous wallets to two prominent cryptocurrency trading platforms, Bitstamp and Bitso.
Notably, data provided by the Bithomp analytical service, which specializes in tracking XRP transactions, revealed that these transfers originated from a wallet associated with Ripple Labs.
Bitstamp and Bitso, both well-established partners in Ripple’s groundbreaking cross-border payment initiative that harnesses the power of RippleNet and utilizes XRP, have played pivotal roles in reshaping the financial landscape. Originally known as on-demand liquidity (ODL), Ripple has recently rebranded this service as Ripple Payments. This service has seen remarkable expansion, now spanning across more than 70 countries globally, underscoring Ripple’s relentless commitment to innovation, as emphasized in a recent report by the pioneering blockchain company.
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